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Top-down economic models, such as computable general equilibrium models, are the common tools to assess the economic impacts of climate change policies. However, these models are incapable of representing the detailed technological characteristics of the sources of greenhouse gas emissions. The...
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high-income countries to increase mitigation in low-income countries. Climate finance solutions have advantages for high … carbon market," the market equilibrium is inefficient, as mitigation is excessive in low-income countries and too low in high …-income countries. Instead, mitigation outcomes in the offset market should be attributed to the two finance types in proportion to …
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